Data communication involves transferring data between devices over various media, enabling essential networking functions such as email and video chatting. Key components include senders, receivers, communication channels, and protocols, while techniques can be synchronous or asynchronous. Different transmission modes (simplex, half-duplex, full-duplex) and various media (guided and unguided) are used, with security measures like encryption and firewalls addressing challenges like latency, bandwidth, and potential security threats.